The clarion. [volume] (Jackson, Miss.) 1883-1888, 1887-08-03

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The item, Seminary Fund-Univer-
sity debt" though charged and credited
in the debt statement for the first time
In 1881, and swelling the figures on both
sides of the ledger for that year, was
not new debt, but an old debt recog
nized. by an act of the Legislature in
1880,
The item of 1885,, 1897, formed part
of all the statements before January l,
| 1888, and represented so much of the
debit charge Outstanding warran is, )" as
belonged to the State and were not
really Outstanding" For example,
the report made January l, 1876, con-
| tains the item, warrants outstanding,
5000, 12S 2S." Against this amount were
credited S1S5,16997, represented by
warrants already in the treasury.
In the report made in January, 1888,
this item, 1885,, 1897, was dropped
| from both sides of the account and has
not appeared in it since.
The Agricultural College bonds, con-
stituting the Agricultural Land Scrip
Fund 1927 10000 are charged as a
permanent debt in al The reports except
that made January l, 1876, but is not
credited, as are the other permanent
funds, till January l, 1888.
The debt statement made January /,
| 1888, shows no warrants outstanding
Document c." of the report shows
that there were outstanding $50, S23.65.
The debt statement made January /,
| 1885, is entitled to credit of $9,812.97
cash in treasury, which was omitted,
and the statement made January l,
1886, to credit of $7,460.70, of the
same character, for the same reason.
The permanent debt of the State was
Increased in 1876 reported January l,
1870, to the extent of 1927, 10000 by
adding to it the Agricultural College
Bonds.
1t was further increased in 1880 ire
ported January l, 1881, to the extent
of $544, 06l 90, by adding to it the Semi
nary Fund.
Neither the Agricultural College
Bonds nor the Seminary Fund increased
the payable debt of the State; but the
omission to credit the total debt, from
1877 till 1888, with the former, and
creditipg it then, made an apparent
reduction. The payable debt in 1885, is
reported at 1922, 415.11, and in 1888 at
$l75, 21406. To compare these two
years 1927 $4,000 should be added to
the latter or deducted from the former
Dropping 1856, 1897, above referred
to, from both sides of the debt state
ment where it had figured till 1888, had
no effect on the treasury balance or on
the payable debt, but it decreased the
total debt reported in 1888 and there
after, by that amount.
Bearing in mind the foregoing state
ments it is easy enough for any person
to compare any year with another or
any term of years with another term.
If, for example, it is desired to contrast
the total and payable debts of the years
1876 and 1886, we must add to the
reported total debt of the latter year
the Agricultural College Bonds 1927 $50,
and the warrants owned by the State,
$185, 1897, both of which amounts
were charged in the report of 1876, and
we must add to the payable debt
1927 $50, because that amount was
charged and not credited in 1876, and
both charged and credited in 1886. We
must also credit the reported statement
with q, 5000 cash omitted. Thus:
Total debt reported in 1876 ss,s4l lisa 50
Total debt reported in 1887 3d. 17s.6ss 81
Add. xzisl6u w
Add Also lsoszby VI
ss,5s ,i1s IS